Connor Clark & Lunn Investment Management Ltd. Has $8.04 Million Stake in Bank OZK (NASDAQ:OZK)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Bank OZK by 207.4%, holding approximately $8.04 million in shares after buying an additional 124,764 shares in the first quarter.
• Multiple analysts have updated their ratings and price targets for Bank OZK, with Wells Fargo raising its target from $48.00 to $49.00 while others adjusted theirs downward, reflecting varied sentiment about the stock.
• Bank OZK announced a quarterly dividend of $0.44 per share, marking an increase from the previous dividend of $0.43 and representing an annualized yield of 3.7%.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 207.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,924 shares of the company's stock after buying an additional 124,764 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Bank OZK worth $8,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Bank OZK by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 78,014 shares of the company's stock valued at $3,474,000 after purchasing an additional 7,945 shares during the period. Envestnet Asset Management Inc. grew its position in Bank OZK by 10.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 135,139 shares of the company's stock valued at $6,018,000 after purchasing an additional 12,663 shares during the period. Federated Hermes Inc. grew its position in Bank OZK by 47.6% in the 4th quarter. Federated Hermes Inc. now owns 10,927 shares of the company's stock valued at $487,000 after purchasing an additional 3,526 shares during the period. Cerity Partners LLC grew its position in Bank OZK by 17.2% in the 4th quarter. Cerity Partners LLC now owns 60,590 shares of the company's stock valued at $2,688,000 after purchasing an additional 8,873 shares during the period. Finally, Bank of Montreal Can grew its position in Bank OZK by 0.5% in the 4th quarter. Bank of Montreal Can now owns 46,832 shares of the company's stock valued at $2,085,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Stephens reduced their price target on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Bank OZK currently has an average rating of "Hold" and an average price target of $52.88.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $47.84 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The stock's fifty day simple moving average is $48.56 and its two-hundred day simple moving average is $46.40. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.64. The stock has a market cap of $5.44 billion, a PE ratio of 7.77 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%. The business had revenue of $428.04 million for the quarter, compared to analysts' expectations of $423.41 million. During the same period last year, the business earned $1.52 EPS. As a group, analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, July 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio (DPR) is presently 28.57%.

Bank OZK Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.